As we expected yesterday, the EURUSD broke the flag pattern on the hourly timeframe and fell to the 1.0990 support level, where pair is likely to continue its decline by retesting the broken pattern.
Resistance Levels: 1.1055- 1.1095- 1.1175
Support Levels: 1.0990 - 1.0940 - 1.0880
GBPUSD rallied strongly as a result of reaching the bottom of the triangle pattern on the hourly charts. The price now faces a strong resistance level that might prompt it to fall back to 1.2800 again, which is supported by RSI being in the 75 zone that indicates overbought.
Resistance: 1.2965- 1.3050 -1.3150
Support: 1.2760 - 1.2660 - 1.2550
USDJPY pair soared until it reached the resistance level at 109.50, waiting for the correction to decline, especially with the RSI near the 75 level indicating overbought.
Resistance: 109.00 - 109.50 - 110.00
Support: 108.30 - 107.90 - 107.30
Gold is moving in a volatile direction on the hourly interval forming a triangle pattern, so we must wait for the triangle to break, noting that the price is moving in a bearish trend over the long term.
Resistance: 1475 - 1495 - 1515
Support: 1445 - 1430 - 1410
Oil is facing strong resistance level at 58.75, which managed to push the price lower yesterday. Shrewd traders should wait for the breakout of the aforesaid resistance to buy or the fall to 56.20 to buy due to the presence of strong support.
Resistance: 58.75 - 62.50 - 65.00
Support: 56.20 - 53.75 - 51.45